Monday, October 26, 2009
Religious innovations in finance
A German bank is soon to begin offering financial services that comply with Islamic Sharia law. See these earlier posts here and here for some background info. Such financial services have existed in other countries, and actually did pretty well during the recent financial crisis. This news is another indication of the continued growth of Islam in Germany and Europe. And in case you were wondering, yes, financial services also cater to people of other faiths. Overall, this is just another way in which religion and other aspects of life intersect.